German chipmaker Infineon narrowed its full-year revenue outlook on Monday after it missed expectations for third-quarter revenue as a recovery in its target markets is proceeding slowly.
The company reported third-quarter revenue of 3.702 billion euros ($4.04 billion), falling short of the 3.8 billion euros forecast in a company-provided consensus.
For the full year, Infineon now expects revenue of around 15.0 billion euros, versus prior guidance for 15.1 billion euros ($16.3 billion), plus or minus 400 million euros, for the year.
